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Calgary Real Estate Market Overview

MLS® SALES COOL SLIGHTLY WHILE LISTINGS INCREASE

Calgary, October 2, 2006 – MLS® sales took a slight dip in September from last month sales, but new listings coming to the market showed an increase over last month, according to figures released by the Calgary Real Estate Board (CREB®).

September combined residential sales totaled 2,180, showing a 13.35 per cent decrease from last month's sales of 2,516 and showing a decrease of 17.46 per cent from September 2005 when the sales were recorded at 2,641, the highest September recorded on the MLS®. The following shows the breakdown of the September combined sales; 1,493 single-family residences, 667 condominium, and 20 mobile homes. September 2005 sales in the same categories were, 1,891, 731, and 19, respectively.

The average combined residential sale price for September 2006 was $369,928, showing a 45.64 per cent increase over September 2005, when the average price was $253,995, and a 1.15 per cent increase over last month's average price of $365,732. Broken out, the following is a comparison of single-family, condominium, and mobile home average sale prices for the month of September 2006 over 2005: single-family $410,326 / $283,523; condominium $288,676 / $183,217; and mobile home $64,025 / $38,381.

September 2006 residential combined listings totaled 4,783. This is a 47.17 per cent increase over September 2005, when 3,250 new listings came to market and showing an 11.99 per cent increase over the 4,271 homes listed in August.

Condominium sales saw a decrease with 667 units changing hands. Sales for condominiums for the same period last year were 731 showing a decrease of 8.76 per cent and a decrease of 17.86 per cent from last month's 812 sales. The average condominium sale price in September 2006 was $288,676, a record high for condominiums recorded on the MLS®, compared to the $183,217 in September 2005 showing a 57.56 per cent increase and a 4.39 per cent increase over the August average sale price of $276,536.

"With absorption inventories now exceeding three months supply we have, for the time being, left the booming market far behind," says CREB® President, Kevin Clark. "Sellers needing to sell in 2006 should consult carefully with their REALTOR® to price their property competitively for a successful sale. Buyers, on the other hand, would probably be wise not to become too cavalier about this temporary situation, because they may once again pay more next year."

Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differentials between geographical areas. The median price is determined by selecting the middle number of total sale prices – the combined residential median price for September 2006 was $333,000; up 48.99 per cent from September 2005, when the median price was $223,500 and up 1.52 per cent from the median price in August of $328,000.

The Calgary Real Estate Board is a professional body of 5,346 licensed brokers and registered agents, representing 258 Member offices.
 

SINGLE FAMILY
2006
2005
2006 YTD
2005 YTD
%Change
Average Sale Price
410,326
283,523
381,004
273,917
39.09%
Listings
3,497
2,330
26,068
23,701
9.99%
Sales
1,493
1,891
18,582
17,594
5.62%
Dollar Volume
612,616,312
536,141,419
7,079,819,935
4,819,303,773
46.91%
Sales to Listing Ratio
42.69%
81.16%
71.28%
74.23%
-3.97%
Median Price
373,000
249,000
346,815
244,000
42.14%
 
CONDOMINIUM
 
 
 
 
 
Average Sale Price
288,676
183,217
255,396
181,538
40.68%
Listings
1,268
893
9,676
8,886
8.89%
Sales
667
731
7,734
6,700
15.43%
Dollar Volume
192,546,611
133,931,268
1,975,233,059
1,216,306,177
62.40%
Sales to Listing Ratio
52.60%
81.86%
79.93%
75.40%
6.01%
Median Price
262,000
164,850
238,600
162,000
47.28%
 
MOBILE
 
 
 
 
 
Average Sale Price (incl. in Residential)
64,025
38,381
49,166
38,936
26.27%
Listings (incl. in Residential)
18
27
191
292
-34.59
Sales (incl. in Residential)
20
19
173
127
36.22%
Dollar Volume (incl. in Residential)
1,280,500
729,240
8,505,688
4,944,830
72.01%
Sales to Listing Ratio (incl. in Residential)
111.11%
70.37%
90.58%
70.37%
28.71%
Median Price
60,000
37,000
43,000
35,000
22.86%
 
RURAL w/HOME
 
 
 
 
 
Average Sale Price
596,247
492,789
672,624
500,494
34.39%
Listings
184
152
1,505
1,525
-1.31%
Sales
73
75
872
782
11.51%
Dollar Volume
43,526,000
36,959,180
586,527,891
391,386,274
49.86%
Sales to Listing Ratio
39.67%
49.34%
57.94%
51.28%
12.99%
Median Price
567,500
455,000
580000
440,000
31.82%
 
RURAL LAND
 
 
 
 
 
Average Sale Price
731,137
248,272
525,749
295,913
77.67%
Listings
85
70
634
538
17.84%
Sales
30
39
357
260
37.31%
Dollar Volume
21,934,100
9,682,600
187,692,481
76,937,469
143.95%
Sales to Listing Ratio
35.29%
55.71%
56.31%
48.33%
16.52%
Median Price
460,000
187,250
300,500
189,000
58.99%
 
RESIDENTIAL COMBINED (Single Family, Condo, Mobile)
 
 
 
 
 
Average Sale Price
369,928
253,995
342,163
247,351
38.33%
Listings
4,783
3,250
35,935
32,879
9.29%
Sales
2,180
2,641
26,489
24,421
8.47%
Dollar Volume
806,443,423
670,801,927
9,063,558,682
6,040,554,780
50.05%
Sales to Listing Ratio
45.58%
81.26%
73.71%
74.28%
-0.76%
Median Price
333,000
233,500
310,000
220,000
40.91%
 
TOTAL MLS®
 
 
 
 
 
Average Sale Price
381,911
260,415
354,924
255,621
38.85%
Listings
5,052
3,472
38,074
34,942
8.96%
Sales
2,283
2,755
27,718
25,463
8.86%
Dollar Volume
871,903,523
717,443,707
9,837,779,054
6,508,878,523
51.14%
Sales to Listing Ratio
45.19%
79.35%
72.80%
72.87%
-0.10%
 

 

Average Calgary Real Estate Prices for last 13 months

Average Calgary Real Estate Yearly Prices for 1985 to 2006 YTD

 Calgary Real Estate Market data supplied by CREB

Recommend this Calgary Real Estate Market Conditions page to a friend.

 
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1998 - 2013 All rights reserved worldwide. Privacy, Disclaimer.